The pair ended its latest bullish corrective rally with another close below the additional resistance level at 178.10, forcing it to form negative waves and currently stabilize near 177.15.
Repeated stability below this additional resistance will increase the chances of further bearish waves, targeting 176.40, followed by 175.75. However, breaching this barrier and holding above it will confirm the pair’s commitment to the bullish corrective path, opening the way for further gains toward 178.65 and 179.25.
The expected trading range for today is between 176.40 and 178.10
Trend forecast: Bearish
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The pair benefited from recurring positive pressure, driven by Stochastic approaching overbought territory, pushing it to break above the 212.00 resistance level. It recorded some gains yesterday, surging toward 213.00 before staging an intraday pullback, while maintaining its stability above the broken resistance.
MorePlatinum recorded another negative close below the $1440.00 barrier, confirming its continued commitment to the bearish scenario. The price is currently incurring further losses, touching $1385.00 and approaching the additional target suggested in our previous report.
MoreCopper prices took advantage of recurring negative pressure to record a sharp decline yesterday, threatening the $6.2400 support level, which was our previously suggested target.
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